Bhubaneswar: In a strategic move towards fostering self-employment opportunities for the youth, the Odisha Government has given its nod to the “SWAYAM” Scheme. This initiative, targeted at individuals in the age group of 18-35 years (18-40 years for special categories), aims to empower rural unemployed youth to become entrepreneurs.
Key Highlights of SWAYAM Scheme:
Financial Support for Self-Employment:
Eligible youth can access interest-free bank loans for project costs up to Rs 1 lakh, providing them with the necessary financial backing to kickstart or expand their entrepreneurial ventures.
Targeted Beneficiaries:
The government plans to extend the benefits of the SWAYAM Scheme to 1 lakh eligible rural youth initially. Special considerations for individuals falling within the 18-40 age bracket will be taken into account.
Budget Allocation:
A substantial budget of Rs 448 crore has been allocated for the implementation of the SWAYAM Scheme. This financial commitment underscores the government’s dedication to supporting grassroots entrepreneurship.
Operational Period:
The SWAYAM Scheme is slated to be operational for a period of two years, providing a window of opportunity for aspiring entrepreneurs to avail themselves of the scheme’s benefits and contribute to the state’s economic growth.
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